Can anyone please advise on the wording of a simple loan agreement, and does the fact that I have paid off some of the borrowers debts in the form of a direct payment to the borrowers creditors have any effect on the legal standing of the loan. Does the fact that the money has been paid in three stages and not all directly to the borrower have any affect on the authenticity of the loan in a UK court. My daughter intends to record the amount as a liability on her FORM E financial disclosure. See below for more details.
My daughter is going through divorce at the moment, and experiencing a few financial difficulties until matters have been finalised. She intends to repay me after the divorce settlement.
I have agreed to lend her £6000. Some of which I have already paid in the form of a two cheques direct to her credit card company totalling about £4500. She has photocopied the cheques before forwarding to her credit card provider and can prove via credit card statements that the money has if fact gone into her credit card account.
The remainder of the balance will be made directly payable to her in the form of a personal cheque.
Any comments received with thanks